Key Energy looking at loan covenant structure to avoid non-compliance

By Sara Rosenberg

New York, Aug. 6 - Key Energy Services Inc. plans to address its senior secured credit facility covenant structure to avoid any possibility of a breach of financial obligations, according to a news release.

During the second quarter, the company paid down $100 million on its credit facility, leaving $87.8 million in outstanding borrowings and $230.3 million of availability.

Key Energy is a Houston-based operator of an onshore, rig-based well servicing contractor.

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